- The Official TRUMP memecoin resumed its rally after a brief correction, posting more than a 46% gain over the past seven days.
- Social media buzz greatly contributed to the token’s latest moves.
- Overbought conditions warn of a rising likelihood of a pullback, which could drive the memecoin down to $2.50-$2.20.
Official TRUMP, the memecoin linked to US President Donald Trump, has defied the ongoing market downturn as traders lock in profits after Bitcoin (BTC) and correlated altcoins logged massive gains in nearly two weeks. Amid more than $360 million in liquidated long positions in crypto over the last 24 hours, TRUMP has kept its momentum for more than a week.
TRUMP Memecoin Resumes Rally
Over the past 24 hours, TRUMP climbed more than 14% from $2.53 to $2.90 before sliding to $2.78 just after Saturday midnight (UTC). Meanwhile, the price represents a gain of over 46% in seven days.
TRUMP currently trades about 23% below the $3.64 price it reached a week ago. Nonetheless, social media appears to sustain its momentum following a report by the nonprofit organization Public Citizen on Thursday.
Factors Contributing to the Trend
The publication recently highlighted that investors in Trump-related crypto ventures are sitting at approximately $4.7 billion in unrealized losses. This follows the president’s declaration of $1.2 billion in crypto earnings.
Instead of spooking investors, the report kept the memecoin’s momentum going. This is because many investors see the situation as a sign of long-term commitment rather than forced bag-holding. For them, it’s a dedicated community holding out for a broader market recovery.
Additionally, TRUMP has seemingly benefited from recent breakthroughs in the World Liberty Financial (WLFI) ecosystem. On Wednesday, the Canton Network (CC), a chain backed by a coalition of Wall Street giants, announced its native issuance of the WLFI-supported USD1 stablecoin, which expands its use cases beyond payment and remittances into decentralized finance (DeFi) lending, collateralization of derivatives, real-world asset (RWA) tokenization, and more.
Moreover, TRUMP has apparently piggybacked on the hype around World Liberty Financial’s planned bank in the US, which was reportedly 49% backed by UAE national security advisor Sheik Tahnoon bin Zayed al Nahyan and his associates. There’s also the upcoming sale of the 2026 Semiquincentennial President Donald J. Trump $1 coin rolls and bags on September 2 by the United States Mint.
Short-Term Outlook
The near-term outlook on TRUMP is cautious as it navigates an overbought Relative Strength Index (RSI) on the daily chart. It suggests a likely retest of the $2.50 support, with potential for a pullback toward $2.20 if it fails to hold the line.
On the other hand, the memecoin could retest the $3 key resistance if momentum sustains due to the latest developments. But then again, most signs point to a higher possibility of broader profit-taking in the near term.
Disclaimer: The compiled data, analysis, and commentary featured in this article are for informational purposes only. They do not constitute an exhaustive study, financial advice, or a product recommendation from the author or the Blockzeit team.
